The ABC Bill before the US Congress
Finance with Neither Debt nor Tax
An Act is now before the US Congress to fund an initial $2 trillion in pandemic relief which will not add to either debt or taxation. It will fund a debit card for everyone of $2,000 per month. Its technique is something like a digital adaption of President Lincoln’s greenbacks.
Congressional power to mint coins is used to issue an initial two $1 trillion coins which the Reserve Bank will buy to fund the programme.
Press releases, articles and a video examining the proposal and the Act itself are in the links below.
An article comparing the ABC Bill to an early 20th Century
proposal with similarities: